NEW YORK — Targeted genetic sequencing company Tesis Biosciences said on Wednesday that it has acquired Genome Explorations, a provider of genomic profiling and molecular diagnostic services.
Scottsdale, Arizona-based Tesis — which recently changed its name from Tesis Labs to reflect its increasing focus on clinical research and diagnostic initiatives — said that the acquisition would help it complete a clinical therapeutic project that could result in a commercialized product early this year.
Financial and other terms of the transaction were not disclosed.
"We have a number of proprietary clinical initiatives this acquisition allows us to complete by integrating Genome Explorations' ongoing research data with Tesis," Tesis CEO Ron King said in a statement. "By enabling clinicians to individualize treatment for people with cancer and other chronic diseases, we can improve the quality of life for millions of Americans and revolutionize medicine."